Horizon Kinetics (TPL) reports minor insider share purchase on Form 4

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp (TPL), reported a small open-market purchase of 1 share of common stock on February 4, 2026 at $345.07 per share. Following this transaction, it beneficially owned 3,479,366 shares directly. A footnote explains that a prior Schedule 13D amendment in December 2024 reported 3,578,173 shares and detailed Murray Stahl’s separate direct and indirect interests, and notes a three-for-one stock split effective December 22, 2025.

Insider Trade Summary

Net Buyer: 1 shares ($345)

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($345.07)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1	$345.07	$345.07

Holdings After Transaction: Common Stock — 3,479,366 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HORIZON KINETICS ASSET MANAGEMENT LLC

(Last) (First) (Middle)

470 PARK AVENUE SOUTH

4TH FLOOR SOUTH

(Street)

NEW YORK NY 10016

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Texas Pacific Land Corp [ TPL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/04/2026		P		1	A	$345.07	3,479,366(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein and reflects a three-for-one stock split effective December 22, 2025. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.

	/s/ Jay Kesslen, attorney-in-fact	02/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transaction did Horizon Kinetics report for Texas Pacific Land Corp (TPL)?

Horizon Kinetics Asset Management LLC reported buying 1 share of Texas Pacific Land Corp common stock. The purchase occurred on February 4, 2026 at a price of $345.07 per share, and was reported as a direct ownership transaction on a Form 4 insider filing.

How many Texas Pacific Land Corp (TPL) shares does Horizon Kinetics own after this Form 4 transaction?

After the reported transaction, Horizon Kinetics Asset Management LLC beneficially owned 3,479,366 shares of Texas Pacific Land Corp common stock. This amount reflects its direct holdings as disclosed in the Form 4 following the February 4, 2026 open-market purchase of one additional share.

What does the Form 4 footnote reveal about Murray Stahl’s interest in Texas Pacific Land Corp (TPL)?

The footnote states that a December 18, 2024 Schedule 13D amendment reported Murray Stahl’s direct interest in 7,848 shares and indirect interest in approximately 156,083 shares. It also notes that Mr. Stahl does not exercise investment discretion over Texas Pacific Land Corp securities held by Horizon Kinetics.

How did a stock split affect the reported Texas Pacific Land Corp (TPL) holdings?

The filing notes that Horizon Kinetics’ disclosed pecuniary interest reflects a three-for-one stock split effective December 22, 2025. This means earlier reported beneficial ownership amounts, including those in the December 2024 Schedule 13D amendment, have been adjusted to account for the split in the current disclosure.

What prior beneficial ownership did Horizon Kinetics report for Texas Pacific Land Corp (TPL)?

A December 18, 2024 amendment to Schedule 13D reported Horizon Kinetics Asset Management LLC as beneficially owning 3,578,173 shares of Texas Pacific Land Corp. The current Form 4 references that filing and updates Horizon Kinetics’ pecuniary interest numbers after the subsequent three-for-one stock split.